Entrepreneurs grow wealthy by reducing the economic friction between buyers and sellers.

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But smoother increases in marginal tax rates, as under current law, create less economic friction, and fewer deadweight losses, then those with a number of peaks and valleys.

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Communications technologies of all kinds function as an economic lubricant, reducing friction in the economy and thus accelerating economic growth.

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Trade with the United States and major Asian trading partners rose as the global recovery strengthened and the economic impact of friction with China over a territorial dispute appeared to recede.

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If that economic graph existed, imagine all the friction coming out of the system as those connections are forged.

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Eliminating this friction, or more generally barriers to opportunity, is the next phase of economic acceleration.

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